Wealth Architects LLC Sells 1,198 Shares of Snowflake Inc. (NYSE:SNOW)

Wealth Architects LLC trimmed its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 9.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,057 shares of the company’s stock after selling 1,198 shares during the period. Wealth Architects LLC’s holdings in Snowflake were worth $1,385,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. LRI Investments LLC purchased a new position in Snowflake in the first quarter valued at about $29,000. Wellington Shields Capital Management LLC purchased a new position in Snowflake in the second quarter valued at approximately $27,000. V Square Quantitative Management LLC bought a new position in Snowflake during the third quarter valued at $30,000. Global Financial Private Client LLC bought a new position in Snowflake during the first quarter valued at $44,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Snowflake in the second quarter worth $39,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Performance

Shares of SNOW stock opened at $121.39 on Thursday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The company has a market capitalization of $40.69 billion, a P/E ratio of -39.67 and a beta of 0.83. The stock has a 50 day moving average price of $114.63 and a two-hundred day moving average price of $129.94.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The company’s revenue was up 28.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.52) EPS. As a group, equities analysts predict that Snowflake Inc. will post -2.41 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 30,000 shares of Snowflake stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $120.00, for a total value of $3,600,000.00. Following the sale, the executive vice president now directly owns 721,755 shares in the company, valued at approximately $86,610,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Frank Slootman sold 6,251 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $715,051.89. Following the completion of the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at $23,877,196.65. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 30,000 shares of Snowflake stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $120.00, for a total value of $3,600,000.00. Following the sale, the executive vice president now directly owns 721,755 shares in the company, valued at approximately $86,610,600. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,538 shares of company stock valued at $5,249,994 in the last 90 days. Insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wedbush raised Snowflake to a “hold” rating in a research report on Thursday, October 17th. Bank of America reduced their target price on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. UBS Group dropped their price target on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Jefferies Financial Group reduced their price objective on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, TD Cowen dropped their target price on Snowflake from $230.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $174.17.

About Snowflake

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.